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the real question here is, how do we reduce our deficits in a way that does not hurt the economy right now, but does make sure that as the economy improves that public spending is not -- and deficit spending is not squeeze the out by private investment. for the last couple years the problem has been opposite. we have seen less private investment, so the moneys the federal government has spent have been very important to helping the economy from going into free fall. . there is no doubt that we have to deal with the balanced approach and that's where the debate lies in how we should do that. again, our republican colleagues have said no to the balanced approach. they said no to the plan that we offered to prevent the sequester. they wouldn't allow a vote on the plan we offered to prevent the sequester that's going to hit on march 1 and which our republican colleagues in statement after statement on this floor have said is going to hurt the economy and which we know from the last quarter's economic report is already hurting the economy just because businesses are anticipating the possibility
, the driving passion for mr. boehner in these fiscal debates is his conviction that trillion deficits are sapping the country of its energy and prosperity. trillion deficits, his driving passion. everybody loves john boehner's passion. but this is supposedly what he feels so passionate about. this is a chart of the country's budget deficit levels every year. red bars are president bush's deficits from 2008 and 2009. blue bars are president obama's deficits. those really big bars are when the whole world economy crashed, including ours. remember that? you notice how the deficit gets smaller when the bars are blue over time? see how they're getting shorter as you go to the right? today the congressional budget office released their deficit projection for 2013. so for this upcoming year, the nonpartisan cbo. according to them under president obama the deficit is slated to continue to shrink, as it has been under president obama. but the supposedly gigantic growth of those deficits is why congressional republicans are >>> in march 2007, some of the fine folks at morgan stanley were brains
of the administration, the deficit tripled, the previous record high deficit in this country, to $1.4 trillion. $1.3 trillion in f.y. 2010. $1.3 trillion in 2011, $1.2 trillion in f.y. 2012. and, mr. speaker, there's no plan that the administration has produced to get us from where we are, fiscal irresponsibility, to a point in the future of fiscal responsibility. mr. speaker, we've been doing our part here in the house, we've been proud to work together across the aisle in order to pass budgets that tackle those hard challenges that are ahead of us. if you go and read the president's comments, mr. speaker, you'll see that he recognized the challenges are hard. the question is, are we going to deal with those or not? i hold here, mr. speaker, a speech that the president made to the democratic national convention on september 6, 2012. where he said this, i will use the money that we're no longer spending on war to pay down our debt and put more people back to work. and my notes here said it was followed by extended cheers and applause. i suspect my friend from massachusetts supports that spirit who
really needed was deficit reduction. and this is a period in which we didn't come to a big deficit reduction deal. what we did is raise taxes. it cut the deficit a bit, but not a big deal. what happened to the markets? somehow we kept adding jobs and the stock market did really well. it all worked out reasonably okay. so here is what we learned. cutting government spending hurts economic growth. no doubt about it. that means doing it in a bad economy may not be such a good idea. but increasing taxes a bit, not coming to the big deficit deal. the private sector and even the markets don't seem all that concerned. the last week should cause a lot of people in washington to re-think what they're doing. i am not optimistic that will happen. joining me now, former economic adviser to vice president joe biden, jared bernstein, a man who is always re-thinking what he is doing, how are you? >> i'm fine, ezra. >> and what else did you see in the reports? you got a good eye, what caught yours? >> one thing i saw was the revisions to last year's employment growth was such that i thought we wer
apiece saying how the trust deficit is hurting the economy. what are you trying to say about that? guest: we usually do not talk about trust deficits. talk about trade, budget deficits, things we can measure. i'm talking about a breakdown of trust in american society, in particular in the institutions that make our economy go. when you look at measures of trust from surveys like a gallup or the pugh institute -- the pew institute, or even newspapers, congress, large corporations, banks, public schools, they have all been going down for many years. for a lot of them, this decline in trust was intensified leading up to and going into the financial crisis. there are a lot of reasons for these things we can talk about. what we were trying to get at in the story that -- is that this matters to the economy, and trust breaks down. there was nobel prize-winning economist who 40 years ago said that every commercial transaction has within it an element of trust. when you trust your counter party, you're more likely to engage in a transaction. when trust begins to fray, and people become suspicious
with smarter spending reductions to bring down the deficit. we can do it in a gradual way so that there is less of an impact. these deductions that certain folks can take advantage of, the average person cannot. not everyone has access to cayman island accounts, the average person does not have access to carry interest income, where they wind up paying a much lower rate on the billions that they earned. we want to make sure that the whole system is fair and transparent and that we are reducing our deficit in a way that does not hamper growth and reduce the kinds of strategies that we need in order to make sure that we are creating a strong middle-class. host: jim from south carolina, on the republican line, good morning. caller: how are you? host: well, thank you. caller: you keep mentioning and hearing people talking about pensions, but pensions are just invested the same way that 401k is. stocks and bonds. people with pensions lost money as well. i heard cases where people were not going to get as much money. if someone is manages their 401k, i do not know, it needs to be managed properly and
street journal," chief economic correspondent. welcome. you wrote a piece saying how the trust deficit is hurting the economy. what we're trying to do? >> guest: we usually talk about things but budget deficits and trade deficits with things we can measure. what i'm talking about is the breakdown of trust in american society. it would take her in institutions that make our economy go. when you look at measures of trust from surveys by gallup for the pew institute that americans have, it's a very important institution including the media newspaper, television, congress, banks, large corporations, public school, public union. if all been going down for many years and allowed them, declining interest intensified leading up to and going into the financial crisis and there's a lot of reasons for the things we can talk about. but what were chained to get out of the story is this matters economy but trust breaks down. a nobel prize-winning economist named kenneth arrow for 40 years ago set every commercial transaction hasn't been a bad element of trust when you trust your counterparty come ne
the deficit. all by honoring the wish of 2/3 of americans to respect states' rights for marijuana just like we do for alcohol. i would invite my colleagues to join this effort in developing a marijuana policy that makes sense for america today. the speaker pro tempore: the gentleman yields back. the chair recognizes the gentleman from north carolina, mr. coble, for five minutes. mr. coble: i thank the speaker. mr. speaker, january is the traditional month in which new year's resolutions are developed. i'm suggesting that president obama and mrs. boim adopt a resolution -- mrs. obama adopt a resolution. it appears to me, mr. speaker, regard air force one very casually and i believe on some occasions two planes, at least two planes go to the same destination. air force one, mr. speaker, belongs to president and mrs. obama. but air force one also belongs to the american taxpayer. and i would welcome a new year's resolution that would provide generous lace of all future air force one dispatches with prudence, discipline and last but certainly not least fiscal austerity. america's taxpayers will be
times" economist argued why the u.s. should spend now and worry about deficit reduction later. here it is. >> dashing spending when you still have depressed economy is really destructive. it's probably even counterproductive even in purely fiscal terms. we should be sustaining government spending until we have a stronger economic recovery. >> this is not a hard call. as long as we have 4 million people who have been unemployed for more than a year, this is not a time to be worrying about reducing the budget deficit. give me something that looks more like a normal employment situation and i'll become a deficit hawk but not now. >> do you subscribe to that, jared? or is that too extreme? >> not at all. i think paul's exactly right. paul and i share the following thing. we're deficit doves in a down economy, and deficit hawks in a strong economy. at a time like this, what you really need is faster growth. by the way, not only will that help put more people to work, but it will actually help reduce your budget deficit ironically because those people will be working, paying taxes, they w
, he talked about the economy. when it comes to tackling the nation's deficit, president obama said sunday in an interview with cbs news there needs to be revenue involved. and it sounds like he might be interested in going after people like mitt romney. >> there is no doubt we need additional revenue coupled with smart spending reductions in order to bring down our deficit. and we can do it in a gradual way so that it doesn't have a huge impact. and as i said, when you look at some of these deductions that certain folks are able to take advantage of, the average person can't take advantage of them. the average person doesn't have access to cayman island accounts. the average person doesn't have access to carried interest income where they end up paying a much lower rate on billions of dollars that they've earned. so we just want to make sure that the whole system is fair. >> all right. steve, help me out here. i think the democrats are holding a losing hand if they come back and ask for more taxes. they talk about raising tax rates on anybody. but if we're talking about closing loo
out of washington to get our deficits under control. hopefully, we do not have to many quarters where we end up in negative territory. this is not an economy growing six percent and can hinder those bibles easily. host: magnolia, texas, david, better. caller: [indiscernible]we are doing great here. i noticed the super bowl is forming dollars per minute. everything is packed. all of the football stadiums. i do not see any recession. host: you said you are doing better why? caller: i live 15 miles from where they are building the number one country in the world. we are getting roads. it is unbelievable around here. we have job signs everywhere. as far as the savings, when interest rates are 1.5%, who will put their money in the bank? bernanke wants you to put it in stocks. that is why there is no interest rate. i took my money for years ago when i bought those rifles. i have made so much money on them. it is unbelievable. host: he mentioned social security. there is a category about the social safety net. guest: we use the term government social benefits to cover quite a few different p
and deficit issues that face our kids and grandkids. a lot of lip service is being paid. i'm concerned we're talking about just us. what middle-class life will they have unless we stepup and do the right things. and it to me it is very -- actually, i actually campaigned on a suicide mission to reform medicare and the tax reform. every town hall camaraderie, chamber meeting, senior meetings i would talk about those two things in those two things only, guaranteed political suicide. i'm still here. we can do this. [applause] >> congressman. >> in answer to that question about what it will take to get washington to deal with the fiscal challenge facing this country, i was in a meeting in december of 2011 at the home of senator mark warner, a democrat, and alan greenspan was there and he said something that really struck me very hard. he said to you know, reuter you guys in congress going to do something big on this fiscal challenge? are you going to do it before or after the bond market crash is? and it will crash. he is not known for hyperbole, and it struck me that the former chair of the f
talking about the deficit. >> really? oh, yes. eric cantor to the rescue. he is ready to save the republican image and put a stop to the electoral college losses, right? of course, this is not the first time eric cantor has tried to save the party. you see, it actually is the fourth attempt that he has had. in 2009, cantor held a pizza party, remember that? with jeb bush and mitt romney by launching the national council for a new america that didn't work. a year later, cantor was back at it. he was one of the young guns ready to take the republican party by storm. >> there is a better way, and a new team is ready to bring america back. eric cantor, kevin mccarthy, paul ryan joined by common-sense conservative candidates from across the country. together, they are ready to make history. together they are the young guns. >> the good old days. in 2011, cantor launched the you cut program. he wanted to get the public to vote on weekly cuts to federal government. another year, another failure. so today cantor launched the "making life work" campaign. he is trying desperately to avo
is it is getting to the root crop -- the root causes of our trust deficit, our leadership deficit, and putting concepts, practical solutions before the american people. >> no matter what your thoughts maybe, if you really want to fix things, this is the central place to get it done. >> we have problem solvers in congress who want to wear the no labels badge. >> that is the first step to take. >> if we do not come together, we will be the first generation to turn over this country in worse shape than we received it. >> my friends are immigrants. they came to america with the fundamental hope of what this government stands for. >> people across the country want america to be the greatest nation on earth. >> the country they came from had a civil war going on. it did not have the opportunities that america provides. >> we want to make sure that we are the hope of the world and this is the place for your dreams to come true. >> it is actually up to all of us to strengthen our civic backbone and demand something different. a vision of how to get it done. no labels can help do that. >> we are changi
a chart yesterday that the deficit has already fallen from $1 trillion to $648 billion with the cuts they did in 2011. as far as taxes, they need to change the tax code. businesses need to pay their fair share. i get $22,000 in my civil service and social security. i paid $448 in taxes last year. i am 76 years old. i am barely surviving. host: you mentioned at the beginning that your daughter-in- law, where she employed with a company that depended on government financing? >> yes, some government contracts, so they froze things to try to save jobs and then last friday they laid off five people. -- they froze hiring. host: willie is with us on the line. caller: i look at it like this, when you have a drought, in order to break the drought, everybody has to pay for it. a storm, you have to have a hurricane or a tornado to break a drought. some people are going to get flooded out. so i hope that it will go through. let it do what it is supposed to do and get this stuff straightened out. everybody's looking out for themselves. i worked for general motors. the only thing that got general
is to agree on plans to slash the trillion dollars from the deficit with the deadline of march 1. right now, there's no deal in sight. >> i believe they should at least half a smaller package. >> president obama is calling on congress to pass a short-term measure, a combination of spending cuts and tax measures that would delay sequestration until the start of the next fiscal year. >> there's no reason the jobs of thousands of americans who work in national security or education or clean energy, not to mention the growth of the entire economy should be put in jeopardy just because folks in washington couldn't come together. >> the president says the delay will give congress more time to work out a longer-term deal. >> the sequester is $500 billion in automatic spending cuts over the next 10 years. they have already put it off by two months with the rhythmic -- with a mix of revenues and spending cuts. >> republicans a more tax revenue as out question. house speaker john boehner says americans don't support sacrificing real spending cuts or tax hikes. economists say the steep cuts in defense
on congress to work together on a balanced approach to reduce the deficit and promote economic growth. he said businesses created 2.2 million jobs last year. he suggests economic reforms including reducing the cost of health care programs like medicare and closing loopholes in the tax code. >>> this is the first time in five-year that the dow closed above 14,000. it had dropped as low as 6600 in 2009, increased consumer confidence, manufacturing and auto sales are credited for the surge. >> we are moving in the right direction compared to a lot of other countries we are in a good position. >> the economy has improved. you can put the money in the bank but you earn no interest. >> economists say many prefer american investments because the european markets struggling and many consider china as over valued. however others add that just because wall street is up doesn't necessarily mean that the average american is better off, more than 12 million are still looking for jobs. >> hundreds of people in northern california are looking for new jobs as massive layoffs start at campbell soup. 290 wo
in dealing with our recovery. economic recovery and the deficit issues that face our kids and grandkids. a lot of lip service is paid to dealing with the middle class. that is the buzzword. i get concerned we're talking about just us. what about our kids? what about the middle class of the future? what middle-class life for the behalf unless we step up and do the right things? and to me it is -- i campaigned. i campaigned on the suicide mission to reform medicare end to do tax reform. every town hall, every rotary, chamber meeting. i would talk about those things and those two things only. guaranteed political suicide. we can do this. >> in answer to that question, what will we do to get washington to do with the fiscal challenge? there were some business leaders and alan greenspan was there. he said what are you going to do something on this fiscal challenge? are you going to do it before or after the bond market crashes and it will crash. he is not known for hyperbole. and it struck me that the former chair of the federal reserve is saying you are facing an impending crisis and you wi
. there is basically an aversion to paying taxes, and we have deficits caused by wars, tax cuts, and all of the things that we talked about, and there are more people retiring. we could say that is too bad, they lived to long -- right -- too long -- one i was growing up, my grandmother had no medicare, no social security, and she lived with her daughters. i slept on the couch in the living room because that is how families took care of seniors before 1964. now we have a medicare program, where my father lived to 93, my mother lived to 97, and we did nothing for them except pay for their taxes. one year we gave my mom a christmas gift, a hearing aid which cost about $800. host: medicare does not cover that? guest: medicare does not cover that. good luck, you are on your own is what we say to seniors. my view is we are a better country than that. we can find a way to do that. there is a lot of stuff done in this country where people are getting treatment or examinations that are not making their health better or their life better. we have to look at that and stop doing that kind of stuff. that means wit
one with budget deficits. immigration is not what hurts them, and it is not standing in the way of aiding them. in 2007, the congressional budget office found that legalizing undocumented immigrants would increase revenue by $48 billion, while costing only $3 billion increased public services. and that is before you get into the broader economic benefits. there are very few free lunches in public policy. usually it is a realm of hard choices, but taking advantage of our unique position as the country with the world's best and brightest, desperately a way to go? that is surely correct. >>> the pain of mccain. let's play "hardball." ♪ >>> i'm chris matthews in washington. let me start with this. why is john mccain so angry? 40 years after the vietnam p.o.w.s came home, the most famous of them is angrier than ever. why is america, why are we fighting the vietnam war all over again in the united states senate? the ticked off vitriol against chuck hagel, what is it about? is it for show? is it about something hagel said in the cloakroom? is it the unfairness of vietnam itself, that
want a smaller deficit. hispanics are very much on the side of more government involvement. they want government services, they think that the government can do a lot to create jobs. they are very much in line with the democratic party and might be more pro government than the democratic party. if the republican party wants to woo voters, they need to adjust their message, not just on immigration, but also the economy and the basic principles about what the government can do. >> okay. aaron blake, thank you so much. appreciate that. >> thank you. >>> president obama preparing to move out of the white house oval office, work under way on a second oval office in the eisenhower executive office next door. the president will begin working there in august and make way for a two-year renovation of the white house west wing. >>> it's official. john kerry sworn in as secretary of state. duvall patrick has tapped his former top aide, william mo cohen to replace kerry until the june special election. scott brown took his name out of running yesterday. joining me now is frank phillips, who has b
, food insufficiency. you. you can't just overcome those kinds of deficits by providing a headstart education program. so that is where the book began and most of the people advised me and said it's an interesting book and i'm sure you'll get on fox tv. that was not my goal. my. my goal was not to be a critic. i said well, okay let me depart two of the book. there are some social programs that are really quite effective and maybe we can learn a lesson from that. a big quiz in the course of writing the book that i conducted and bored to death my wife and children was let me sit down with everybody and tell me the three government programs that have been the most effective in the last 65 years. almost every one of my academic friends with a headstart and i would say wrong. no evidence. the most effective government program in chronological order our social security, the g.i. bill of 1944 and medicare in 1955. there will be some pushback about that. even "usa today" had an editorial this week is that social security is a pay-as-you-go program. no, it's not. i can never go broke provide
.c. can congress come up with a deficit reduction package that serves all masters? we go inside the numbers. >>> then in illinois, that could be the next state to approve marriage equality. a plan on the books for a valentine's day quote but is the land of lincoln really on board? . [ whistles ] three words dad, e-trade financial consultants. they'll hook you up with a solid plan. wa-- wa-- wait a minute; bobby? bobby! what are you doing man? i'm speed dating! [ male announcer ] get investing advice for your family at e-trade. [ bop ] [ bop ] [ bop ] you can do that all you want, i don't like v8 juice. [ male announcer ] how about v8 v-fusion. a full serving of vegetables, a full serving of fruit. but what you taste is the fruit. so even you... could've had a v8. i worked a patrol unit for 17 years in the city of baltimore. when i first started experiencing the pain, it's hard to describe because you have a numbness but yet you have the pain like thousands of needles sticking in your foot. it was progressively getting worse, and at that point, i knew i had to do something. when
in the right direction. but midway through that cut that back and went back to spending cuts and deficit reductions. critics say basically if they would have left it alone, if they would have left the economy alone it would have righted its own ship. the massive government spending of world war ii, that sucked a lot of people back into labor market at a terrible humanitarian cost got the economy back running. host: there have been some folks, part of the administration, part of the democrats that say infusing money and coming up with these stimulus projects will help get the economy going. is this a similar situation to what f.d.r. tried to do coming out of the great depression? guest: threrp definitely parallels between the stimulus law of 2009 and what f.d.r. wanted to do. one major difference was where the stimulus sort of relied on the private sector. they had is civilian conservation core. this time they've tried to put money into contracts that private firms will get and then hopefully hire private workers. i think the thing about the stimulus is i bet 80 years from now we'll be de
the deficit problem. there is no question about it. but i think when they look at this bill and understand what we are really facing, i do not believe that we will have a problem there. >> [inaudible question] [talking over each other] >> it is different great obviously, we have two different versions. the house has this attrition of the workforce that has been the component and we had a combination for every new positions, we had one and then two, and we can bind both so we are on the same page. the house proposal on the attrition and we have also added congressional papers on it as well for the civilian workforce. >> [inaudible question] >> i would certainly defer to others here and the chairman. there is a real urgency here. one of the reasons that the president and his administration during his campaign, they didn't actually want the law that requires you to notify workers that they may be laid off, essentially the department of labor says the defense employers didn't have to comply with that law, it's because they knew that once they understood the real implications of sequestration,
unemployed right now. we're not out of the deficit of the 8 million jobs already lost. in terms of a system being skewed, if we are continually supported a system where jobs go to the already employed, we are really not doing anything to foster the economic recovery that is going to benefit everybody. in society. none of these laws and nothing the national employment law practice is advocating says you have to fill open jobs with unemployed people. we are saying that qualified unemployed people should be allowed to compete on terms that are fair and that is good for all of us in our economic recovery. host: baltimore, maryland, just hired. caller: i would like to say one thing -- i love cspan and site -- and i love to make it through my phone call. go ravens. i live in baltimore city and the unemployment rate in baltimore city is unbelievable. the problem you have is that not only is there so many people unemployed but that there is a lack of job opportunities. how will the work that you are doing affect people live in urban america who are african- americans who are latino americans, asian
.s. citizens and quite the contrary. have you thought of doing something? we have a $16 trillion deficit, we have fifty-one million people on food stamps, our culture is an entitlement culture and yet we are going after a thirteen million people with an immigration problem. eyewall for vetting them. what about reverse discrimination? we are going to demand exceptionalism we should have it towards the immigrants when they come here legally or illegally and we shall so go back to americans who are u.s. citizens. >> are you talking about expelling americans? >> i'm for the notion citizenship. [talking over each other] >> i may be extreme but here's my point. how many of you -- [talking over each other] >> how many of you have traveled to historic countries? you come back to america you have a different perspective about exceptionalism. how about reverse immigration? >> i did not support the deportation of american citizens. i would say this. if that were to be a policy, you would save hundreds of billions of dollars in the welfare state because individual immigrant, likely to use welfare especi
and then also address the largest drivers much our debt and deficit mandatory spending programs. medicare, medicaid, social security that have not solvent. if we don't fix them and reform them. we will overwhelm our budget in a way that we continue to chop our budget the way you have seen the defense budget. it way you have see this administration do it. failure of leadership. chong the military ainstead much addressing the real problems of out-of-control spending. russia and iran being closer to having a nuclear weapon. are we really thinking that -- i mean, what can we possibly do in our lawmakers are not balancing the books the way that they should be? >> well, we demand change. i mean, my organization concerned vets for america trying to inject veterans voice into this discussion to say we understand what a threat looks like. i have walked on the battlefield and i know what a bad guy looks like. if we don't get our spending under control as admiral mullen says the single largest threat to national security. dysfunction is washington is the biggest threat we face. if we don't get these
. >> reporter: the president will largely focus his attention on immigration reform and deficit reduction exactly one week ahead of his state of the union address. >>> a tragic story. new details on the death of a new york city mom murdered in turkey. >> she was supposed to come back and she didn't. >> they must have luck on their side. ste stephen and terri weaver were on a weekend getaway and returned with two lottery tickets. are you kidding me? >> couldn't believe we won twice. couldn't believe we had won as much as we did. >> jesse, will you come out? >> a gentleman never kisses and tells. >> pucker up. all right. >> loser pays up. boy, is al roker paying right now. >> here's what's happening in your neck of the -- your neck of the woods. >> l.a. reid, the music mogul and jennifer hudson. >> katharine mcphee is inside our studio warm and toasty. >> you remember her, tiffani thiess thiessen, of "saved from the bell." >> john harbaugh is with us from new orleans. >> we were watching your show in the room. you guys do a great job. we love your show. >> yes, there are men on trampolines
Search Results 0 to 42 of about 43 (some duplicates have been removed)